Bithumb Plans Restructuring Ahead of Initial Public Offering
Bithumb plans to separate its core crypto exchange from other operations ahead of an initial public offering (IPO).
- Bithumb Korea will manage the core crypto exchange and pursue a public listing.
- A new entity, Bithumb A, will handle venture investments, asset management, and new business initiatives.
- The restructuring takes effect on July 31.
- Bithumb A will include Bithumb Partners, focusing on financial product investments and consolidating investment arms.
- Bithumb is negotiating with licensed entities for service offerings in South Korea.
- Bithumb Investment, overseeing equity stakes and partnerships, will also be part of Bithumb A.
- Plans have shifted from a NASDAQ listing to pursuing a Kosdaq listing first, with a U.S. listing as a secondary goal.
- Bithumb reported an operating profit of 130.8 billion won ($95 million) in 2024, recovering from a 149 billion-won loss the previous year.